In an effort to ensure Zimbabwe is safeguarded from potential grey-listing by the global Financial Action Task Force (FATF), Artisanal and Small-scale Miners (ASM) have been called upon to become frontline champions of financial compliance and due diligence, Mining Zimbabwe can report.
By Rudairo Mapuranga
Speaking at the Zimbabwe Miners Federation Artisanal and Small-Scale Miners Conference held at Mine Entra 2025, Mr. John Maunganidze of Fidelity Gold Refinery (FGR) emphasised that Zimbabwe faces a crucial mutual evaluation next year that will place the country’s financial systems under intense international scrutiny.
“The global eyes will be on Zimbabwe’s compliance principles, objectives, and standards,” he told delegates, highlighting the mining sector’s critical position as it contributes 12 per cent of GDP and 80 per cent of exports.
The FGR representative warned that failure to meet compliance standards could result in Zimbabwe being grey-listed, with severe consequences for international trade and financing.
“We will have problems in terms of international trade and obtaining international financing from various international bodies,” he stated, directly linking national compliance to miners’ individual livelihoods.
Mr. Maunganidze outlined practical measures for miners, emphasising the crucial importance of Know Your Client (KYC) protocols. He urged miners to collect comprehensive customer information, including identification documents, proof of residence, and nationality details, to build reliable client profiles.
“We are prone to these illegal investors or scrupulous criminals who want to use our sector just to clean their funds,” he cautioned, stressing that proper due diligence protects both the national economy and individual mining operations.
The compliance message was reinforced by Deputy Minister of Mines and Mining Development, Dr. Caleb Makwiranzou, who issued a direct plea to miners: “Let’s not be grey-listed.” He encouraged those unfamiliar with compliance requirements to seek immediate guidance from the Federation or Fidelity Gold Refinery, emphasising that collective adherence to international standards is essential for maintaining Zimbabwe’s standing in global markets and protecting the mining sector’s vital contribution to the national economy.
